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Pontiac Oil Corporation to Undertake New Oil Drilling in Israel

A decision by the Pontiac Oil Corporation to undertake new drilling in the area north of Haifa and near Beersheba was revealed here by Konrad Stickgold, field manager of the company, on his return from a meeting of the corporation’s directors in Paris.

At the same time, it was reported that drilling at Zichron Yaakov is continuing and that it has now reached a depth of 9,500 feet.